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![Stock market today: BSE Sensex opens over 550 points up; Nifty50 near 24,000](https://static.toiimg.com/thumb/msid-120470859,imgsize-100720,width-400,resizemode-4/120470859.jpg "Dr. VK Vijayakumar of Geojit Investments says, “Even though the global economic scenario is mired in uncertainty, India appears relatively resilient." (AI image)")
Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, continued their upward trend on Monday morning. While BSE Sensex crossed the 79,000 mark, Nifty50 was close to 24,000. At 9:16 AM, BSE Sensex was trading at 79,105.49, up 552 points or 0.70%.Nifty50 was at 23,996.50, up 145 points or 0.61%.
Markets showed positive momentum last week, driven by optimism over tariff postponements and product exemptions, suggesting potential progress in trade-related discussions. This week will focus on corporate results, with major firms including HCL Technologies, Axis Bank, Hindustan Unilever, and Maruti set to release their quarterly figures.
Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “Even though the global economic scenario is mired in uncertainty, India appears relatively resilient. India is the only large economy which can grow at 6% even in a slowing global economy. This, along with the declining dollar, has the potential to attract more FPI inflows into India in the short run. The Q4 results of HDFC Bank and ICICI Bank have the potential to take Bank Nifty to all-time high.The focus of the FIIs will be the domestic consumption themes like financials, telecom, aviation, hotels, select autos, real estate, cement and health care. Growth stocks in the digital space also have the potential to move up. IT will continue to be under pressure since the growth outlook for the sector is bleak due to the expected sharp slowdown in the US economy. The possibility of India striking a deal with the US in the next few months is being perceived by the market as positive. Viewed from the perspective of the short-term market construct it is Advantage India.”
Also Check | Top stocks to buy: Stock recommendations for the week starting April 21, 2025
Early Monday trading showed declining US stock-index futures and dollar values as market participants remained cautious amidst US trade discussions with Japan and the European Union, alongside Trump’s Fed criticism.
Oil prices dropped approximately 1% on Monday following progress in US-Iran nuclear discussions, lessening worries about supply constraints from the significant Middle Eastern producer.
Gold achieved an all-time high on Monday whilst the US dollar declined to its lowest point in three years. Concerns about trade disputes between the US and its primary trading associates fuelled recession worries, prompting investors to seek refuge in the precious metal.
The US dollar declined significantly on Monday as market confidence in the American economy weakened further following President Donald Trump’s proposed Federal Reserve reforms, raising questions about the central bank’s autonomy.
Foreign portfolio investors shifted to a net selling position at Rs 4,668 crore on Thursday. Domestic institutional investors acquired shares worth Rs 2,006 crore.
FIIs’ net short position decreased from Rs 86,069 crore on Wednesday to Rs 83,273 crore on Thursday.
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